Forge Resources Announces Phase 2 Diamond Drill Program at Alotta Project, Yukon

Rhea-AI Summary

Forge Resources (OTCQB: FRGGF) has announced a Phase 2 diamond drill program at its Alotta Project in Yukon, comprising 2,100 metres across 7 holes. The program, scheduled to begin September 20, 2025, follows successful Phase 1 drilling that confirmed gold-bearing porphyry-style mineralization.

The company has completed 11 diamond drill holes totaling 4,081.91m since 2023, with all holes encountering gold, copper, and molybdenum mineralization. The Alotta Property is strategically located 40km south of Western Copper's Casino Deposit.

Additionally, Forge has closed the first tranche of its flow-through private placement, raising $775,001.15 through issuing 1,409,093 units at $0.55 per unit. A second tranche offering up to 909,090 units for $500,000 is expected to close around September 24, 2025.

[ "All 11 drill holes completed to date have encountered gold-bearing mineralization", "Strategic location near one of the largest undeveloped gold-copper porphyry deposits globally", "Successfully raised $775,001.15 in first tranche of flow-through financing", "Additional $500,000 financing round upcoming" ]

Positive

• None.

Negative

• Project still in early exploration phase with no defined resource estimates
• Significant ongoing capital requirements for exploration activities

Vancouver, British Columbia--(Newsfile Corp. - September 16, 2025) - Forge Resources Corp. (CSE: FRG) (OTCQB: FRGGF) (FSE: 5YZ) ("FRG" or the "Company) is pleased to announce the planned mobilization of crews for its Phase 2 diamond drill program, comprised of 2,100 metres across 7 holes averaging 300 metres in depth. Mobilization is scheduled for September 20, 2025. The program will focus on untested coincident geophysical and geochemical anomalies across target areas.

This exploration effort is propelled by record-high gold prices, creating a surge of activity in gold exploration projects globally.

Results of Previous Exploration and Mineralization

To date, Forge Resources has completed 11 widely spaced diamond drill holes at the Payoff and Severance zones since 2023, totaling 4081.91 m, including a total of 1422.91 m within 5 drill holes completed in the 2025 Phase 1 drill program. All drill holes completed to date have encountered gold-bearing porphyry-style quartz-sulphide (pyrite, pyrrhotite, molybdenite and chalcopyrite) veins and widespread alteration, reinforcing the presence of a large porphyry system on the property. Visible gold has now been discovered in both 2025 drill holes at the Payoff Zone, possibly related to a gold enriched halo around the main porphyry system.

All holes encountered significant gold, copper, and molybdenum mineralization typically associated with quartz-sericite-pyrite alteration within semi-crowded to crowded quartz-plagioclase porphyry. Mineralization includes disseminated and fracture-controlled pyrite, pyrrhotite, along with minor chalcopyrite and molybdenite linked to quartz veins and micro-veins.

Compilation of prior drilling data indicates potentially economic mineralization correlated with coincident induced polarization, chargeability highs, moderate-to-high resistivities, and magnetic lows.

At this time, we interpret the presence of pyrrhotite in veins and locally disseminated through the porphyry as being related to the emplacement of the porphyries into carbonaceous schists of the Yukon-Tanana terrane country rocks. These are found in abundance in the western and northern parts of the property, and presumably at depth.

Figure 1. Drill Plan Map of Completed and Proposed Diamond Drill Holes

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Strategic Location of Alotta Property

The Alotta Property is located approximately 40 kilometers south of Western Copper's Casino Deposit—one of the largest undeveloped gold-copper porphyry deposits globally. Geochemical and geophysical surveys at Alotta have outlined several prospective targets larger than the current Casino resource area. Similar to the Casino project, the Alotta hosts multi-phased intrusions of the Dawson Range dating back to the Late Cretaceous period.

Flow-through Private Placement Financing Closing

Forge Resources has closed the first tranche of its previously announced non-brokered flow-through private placement (the "Private Placement") and has issued 1,409,093 units (the "Units") at a price of $0.55 per Unit for aggregate gross proceeds of $775,001.15 (the "Offering").

Each Unit consisted of one flow-through common share (each a "Share") in the capital of the Company and one-half of one transferrable non-flow-through common Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company (a "Warrant Share") for a period of 36 months following the issuance thereof at an exercise price of $0.70 per Warrant Share.

In connection with the Offering, the Company paid finders fees to four finders consisting of an aggregate cash commission of $39,900 and 72,545 warrants exercisable for a period of 36 months from the closing of the Private Placement at a price per share of $0.55.

The gross proceeds from the Units will still be utilized for incurring Canadian exploration expenses and flow-through mining expenditures. All securities issued are subject to a statutory holder period of four months and one day from the date of issuance.

Flow-through Private Placement – Second Tranche

The Company announces that it will offer up to an additional 909,090 Units in a second financing round on the same terms, for aggregate gross proceeds of up to approximately $500,000.

The Company anticipates completing this second and final financing round on or around September 24, 2025.

The gross proceeds from this second round of financing will also be utilized for incurring Canadian exploration expenses and flow-through mining expenditures. Finders' fees may be payable in connection with the Private Placement, subject to and in accordance with the policies of the CSE.

About Forge Resources Corp.

Forge Resources Corp. is a Canadian-listed junior exploration company focused on exploring and advancing the Alotta project, a prospective porphyry copper-gold-molybdenum project located 50 km south-east of the Casino porphyry deposit in the unglaciated portion of the Dawson Range porphyry/epithermal belt in the Yukon Territory of Canada. The Company holds an 80% interest in Aion Mining Corp., a company that is developing the fully permitted La Estrella coal project in Santander, Colombia. The project contains eight known seams of metallurgical and thermal coal.

Qualified Person

Lorne Warner, President and P. Geo, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.

On behalf of the Board of Directors,
"PJ Murphy", CEO Forge Resources Corp.
info@forgeresourcescorp.com
604-271-0826

Forward-Looking Statements

Certain of the statements made and information contained herein may contain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information. We seek safe harbor.

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FAQ

What is the scope of Forge Resources' (FRGGF) Phase 2 drill program at Alotta?

The Phase 2 program consists of 2,100 metres of diamond drilling across 7 holes, averaging 300 metres in depth, starting September 20, 2025.

How much has Forge Resources (FRGGF) drilled at Alotta Project to date?

Since 2023, Forge has completed 11 diamond drill holes totaling 4,081.91m, including 1,422.91m within 5 drill holes during the 2025 Phase 1 program.

What type of mineralization has been found at Forge Resources' Alotta Project?

The project has revealed gold-bearing porphyry-style quartz-sulphide veins with pyrite, pyrrhotite, molybdenite and chalcopyrite, including visible gold in 2025 drill holes at the Payoff Zone.

How much funding did Forge Resources raise in its latest private placement?

Forge raised $775,001.15 in the first tranche through issuing 1,409,093 units at $0.55 per unit, with an additional $500,000 second tranche planned.

Where is Forge Resources' Alotta Property located?

The Alotta Property is located 40 kilometers south of Western Copper's Casino Deposit in Yukon, one of the largest undeveloped gold-copper porphyry deposits globally.